An ex-Googler grew his shopping startup into a $23 billion empire in under 4 years. One early invest

In just three and half years, Chinese e-commerce platform Pinduoduo grew from a burgeoning direct-to-consumer delivery service into a multibillion-dollar company with a successful IPO under its belt. When the Shanghai-based startup went public in late July, its stock soared to nearly $27 a share — 41% higher than the company originally anticipated — making Pinduoduo worth nearly $24 billion. Its remarkable growth is the result of a confluence of factors, says Ron Cao, partner of...